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Author: 


Home  Life  Insurance 
Company 

Title: 

Home  Life  Insurance 
Company,  a  record  of 

Place: 

[Cambridge,  Mass.] 

Date: 

[1910] 


MASTER    NEGATIVE   # 


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PRESERVATION  DIVISION 

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ORIGINAL  MATERIAL  AS  FILMED  -    EXISTING  BIBLIOGRAPHIC  RECORD 


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Home  life  insurance  company,  New  York, 

Home  life  insurance  company,  a  record  of  fifty  years,  1860- 
1910.     [Cambridge,  Mass.,  The  Riverside  press,  1910?] 

2  p.  1.,  i3]-31,  i4j  p.,  1  1.  plates,  ports.,  2  fold,  facsim.,  tables,  diagrs. 


21* 


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Columbia  (Snitieisftp 
mtl)eCilpof3^n»gork 

THE  LIBRARIES 


Graduate 

SCHOOL  OF  BUSINESS 
Library 


HOME  LIFE 
INSURANCE  COMPANY 


A  EECOKD  OF 
FIFTY  YEAKS 
I860  —  1910 


CO 


( 


\ 


GEORGE   E.    IDE 


I 

.  LIST  OF  OFFICERS  AND  DIEECTORS 


OFFICERS 
George  E.  Ide 

President 


William  A.  Marshall 
Vice-President  and  Actuary 

Ellis  W.  Gladwin 

Vice-President  and  Secretary 

George  W.  Murray 
Superintendent  of  Agents 

Frank  W.  Chapin,  M.  D. 

Medical  Director 

Frederick  C.  Hilliard 

Cashier 


Anton  A.  Raven 

Vice-President 

Henry  E.  Ide 

Assistant  Secretary 

Henry  Moir 

Associate  Actuary 

Julius  C.  Bierwirth,  M.  D. 

Associate  Medical  Director 

Howard  Van  Sinderen 

Counsel 


DIRECTORS 

Thomas  H.  Messenger Merchant*  N.  Y. 

J.  Warren  Greene,         .         .  Lawyer,  S  Broad  St.,  N.  Y. 

Henry  E.  Pierrepont,     216  Columbia  Heights,  Brooklyn,  N.  Y. 


Thomas  T.  Barr, 
George  £.  Ide, 
William  A.  Nash, 
John  F.  Praeger, 
Ellis  W.  Gladwin, 
John  E.  Borne, 
William  M.  St.  John, 
John  S.  Frothingham, 


President,  Nassau  National  Bank 

.  President 
President,  Corn  Exchange  Bank 
.  Merchant,  82-84  Worth  St.,  N.  Y. 
.  Vice-Pres.  and  Secretary 
.  Banker,  N.  Y. 
New  York  City 
.  Merchant,  68  Broad  St.,  N.  Y. 
Martin  Joost,  .  Vice-Pres.,  Bond  &  Mortg.  Guarantee  Co. 
E.  Le  Grand  Beers,         .        131  Remsen  St.,  Brooklyn,  N.  Y. 

New  York  City 

Pres.,  Atlantic  Mutual  Insurance  Co. 

Pres.,  First  National  Bank,  N.  Y. 

.     Vice-Pres.,  Nassau  National  Bank 

.     Vice-Pres.  and  Actuary. 

Banker,  37  Wall  St.,  N.  Y. 


Courtlandt  p.  Dixon, 
Anton  A.  Raven, 
Francis  L.  Hine, 
Robert  B.  Woodward, 
Wiluam  a.  Marshall, 
William  G.  Low,  Jr., 


Home  Office  Building  under  Search  Light 
256  Broadway,  New  York  City 


'i:r'n'i'*%n%f^TW':l'\'-'J'nFi-r-~'^i^:.firAtKrf>-ti^v\^ 


CHRONOLOGICAL  TABLE  OF 
IMPORTANT  EVENTS 


I 


JANUARY  SOth.  1860 

A  number  of  prominent  citizens  of  Brooklyn 
met  at  the  office  of  the  Nassau  Bank  to  con- 
sider the  expediency  of  establishing  a  Life 
Insurance  Company  in  that  City. 
At  this  conference  were  present :  — 


A.  A.  Low 
W.  H.  Gary 

I.   H.   FROTHmGHAM 

J.  S.  T.  Stranahan 
John  D.  Cocks 
Peter  C.  Cornell 


James  How 
Edward  A.  Lambert 
A.  B.  Cap  WELL 
Lewis  Roberts 
Walter  S.  Griffith 
John  T.  Martin 


At  this  meeting  the  following  resolution 
was  adopted :  — 

"That  we  will  proceed  to  organize  a  Com- 
pany to  be  called  'The  Home  Life  Insur- 
ance Company,'  to  be  located  in  the  City  of 
Brooklyn.". 


[     4     ] 

A  Committee  was  appointed  to  prepare 
necessary  papers,  etc.,  for  the  organization. 

FEBRUARY  1st.  1860 

A  second  meeting  was  held,  at  which  meet- 
ing, in  addition  to  the  gentlemen  already 
mentioned,  were  also  present :  — 


1 1 


H.  E.   PlERREPONT 

John  Halsey 
Thomas  H.  Messenger 
John  G.  Bergen 


Theodore  Polhemus,  Jr. 
J.  Milton  Smith 
j.  e.  southworth 
Harrold  Dollner 


L.  B.  Wyman 

A  Charter  was  submitted,  carefully  consid- 
ered and  unanimously  adopted,  the  follow- 
ing gentlemen  being  the  incorporators  of  the 
Company :  — 


William  H.  Gary 
A.  A.  Low 

Isaac  H.  Frothingham 
J.  S.  T.  Stranahan 
Walter  S.  Griffith 


J.  Milton  Smith 
John  Halsey 
Harrold  Dollner 
Theodore  Polhemus,  Jr. 
S.  B.  Chittenden 


>«''■; 


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Thomas  H.  Messengeb 

H.   E.   PlERBEPONT 

John  D.  Cocks 
John  T.  Martin 
John  G,  Bergen 
Lewis  Roberts 
Samuel  E.  Howard 
J.  E.  Southworth 
H.  B.  Claflin 
George  T.  Hope 
Samuel  Perry 

Czar 


6    1 

Nehemiah  Knight 

Caleb  Barstow 
A.  B.  Bayliss 
Peter  C.  Cornell 
John  Sneden    - 
Edward  A.  Lambert 
C.  I.  Sprague 
Charles  A.  Townsend 
James  How 
Samuel  Smith 
A.  B.  Capwell 
Dunning 


FEBRUARY  23rd,  1860 

Another  meeting  was  held,  at  which  it  was 
reported  that  the  Charter  had  been  approved 
by  the  Attorney- General  and  accepted  by 
the  Superintendent  of  Insurance,  and  the 
Committee  on  Subscriptions  to  the  capital 
stock  reported  that  it  had  made  gratifying 
progress,  more  than  one-half  of  the  whole 
capital  having  already  been  subscribed.     ; 


[    6    ] 
An  office  was  selected  at  the  comer  of  Court 

and  Joralemon  Streets,  and  arrangements 
were  made  for  a  New  York  Office  at  16 
Wall  Street. 

The  first  President  of  the  Company  was 
Walter  S.  Griffith,  at  a  salary  of  $2500  a 
year,  with  an  additional  allowance  of  $200 
per  annum  for  every  1%  of  dividend  on  the 
capital  stock  of  the  Company  over  and  above 
7%,  and  up  to  12%. 

The  first  Executive  Committee  of  the  Com- 
pany was  composed  of  Messrs.  Stranahan, 
Sneden,  Cocks,  Carleton,  Messenger,  Rob- 
erts, and  the  President. 
The  Finance  Committee  consisted  of  Messrs. 
Frothingham,  Low,  Cary,  and  Martin,  with 
the  President. 

The  Auditing  Committee  of  Messrs.  Town- 
send,  How,  and  Wyman. 
At  a  subsequent  meeting,  Isaac  H.  Froth- 


[    7    ]        - 
ingham  was  elected  Treasurer;  Albert  B. 
Capwell,  Attorney ;  Dr.  C.  L.  Mitchell,  Med- 
ical Examiner. 

George  C.  Ripley  was  elected  the  first  Sec- 
retary  of  the  Company. 

MAY  1st.  1860 

The  Company  commenced  business. 

APRIL  22nd,  1861 

The  question  of  war  risks  first  came  up  for 
consideration;  5%  extra  premium  charged. 
The  following  resolution  adopted:  RE- 
SOLVED, That  if  any  clerk  should  join  the 
army  and  be  ordered  away,  the  situation 
shall  be  retained  for  him,  and  his  salary 
continued  during  his  absence. 

DECEMBER  8th,  1862 

W.  J.  Coffin  elected  Actuary  of  the  Com- 
pany. 

MARCH  19th,  1866 

Company  leased  quarters  for  three  years  at 


'I 


[     8     1 

$13,000  per  year,  at  258-260  Broadway.  Part 
of  this  space  was  afterwards  sub-let  by  the 
Company. 

APRIL  16th.  1866 

William  A.  Marshall  entered  the  service  of 
the  Company  as  Clerk. 

SEPTEMBER  17th,  1866 

RESOLVED,  "That  the  officers  be  author- 
ized to  issue  policies  without  any  limit  as  to 
residence  or  travel  at  the  regular  rates  of 
premium."  This  resolution  was  made  to 
apply  to  all  policies  in  force  at  that  time, 
and  the  "Home"  was  the  first  Company  to 
remove  the  restrictions  as  to  residence  or 
travel. 

DECEMBER  17th,  1866 

First  fees  paid  to  Directors. 

APRIL  22nd.  1868 

Property  253  Broadway  was  offered  to  the 


^1  •  I 
If.'' 


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'?• 


WILLIAM   A.    MARSHALL 


I 


[     9     ] 

Company  at  $140,000;  purchase  was  au- 
thorized. 


OCTOBER  16th,  1871 


Resignation  of  A.  B.  Capwell  as  Counsel. 


NOVEMBER  25th,  1872 


Death  of  Walter  S.  GriflSth,  President. 


DECEMBER  2nd,  1872 


George  C.  Ripley  elected  President. 
William  J.  CoflSn,  Secretary  and  Actuary. 


JULY  19th,  1875 


I' 


Life  Endowment  Plan  suggested.   (Deferred 
dividends  with  annual  accounting.) 

SEPTEMBER  29th,  1875 

This  plan  finally  adopted. 

SEPTJEMBER  8th,  1877 

Death  of  William  J.   CoflSn,  Actuary  and 
Secretary. 

William  A.  Marshall  appointed  Actuary. 


I 


M 


\ 


[  10  1 

OCTOBER  15th,  1877 

Joseph  P.  Holbrook  elected  Secretary. 
Charles  A.  Townsend  elected  Vice-President. 

OCTOBER  18th,  1880 

William  G.  Low  elected  Director,  and  ap- 
pointed Counsel  for  the  Company. 

MARCH  2nd,  1881 

Thomas  H.  Messenger  elected  Director. 

OCTOBER  20th,  1881 

Death  of  Thomas  H.  Messenger. 

MAY  5th,  1884 

J.  Warren  Greene  elected  Director. 

MARCH  28th,  1888 

Death  of  Henry  E.  Pierrepont,  Sr. 
Succeeded  as  Director  by  Henry  E.  Pierre- 
pont, Jr. 

SEPTEMBER  20th,  1888 

Death  of  Joseph  W.  Greene. 

DECEMBER,  1888 

Death  of  Joseph  P.  Holbrook,  Secretary. 


I  > 


Mi 


ELLIS  W.   GLADWIN 


II 


■  ' 


[    "    1 

DECEMBER  7th,  1888 

Election  of  George  H.  Ripley,  Secretary. 

APRIL  14th,  1889 

Death  of  Simeon  B.  Chittenden,  Director. 

JANUARY  20th,  1890 

Lemuel  H.  Arnold  and  George  H.  Ripley 
elected  Directors. 

APRIL  1st.  1890 

Resignation  of  George  C.  Ripley  as  Presi- 
dent. 

APRIL  21st,  1890 

Election  of  Charles  A.  Townsend,  President ; 
George  H.  Ripley,  Vice-President; 
George  C.  Ripley,  Advisory  Director; 
George  E.  Ide,  Secretary. 

OCTOBER  20th,  1890 

Thomas  T.  Barr  elected  Director. 
Death  of  Isaac  H.  Frothingham,  Treasurer. 

APRIL  20th,  1891 

George  E.  Ide  elected  Director. 


-.1 


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I    12    ] 

JANUARY  18th,  1892 

William  A.  Nash  and  John  F.  Praeger 
elected  Directors. 

FEBRUARY  ISth.  1892 

First  steps  taken  toward  acquisition  of  addi- 
tional property  on  Broadway. 

MARCH  18th.  1892 

Resignation  of  Charles  A.  Townsend,  Presi- 
dent. 

APRIL  18th,  1892 

Election  of  George  H.  Ripley,  President; 
George  E.  Ide,  Vice-President; 
Ellis  W.  Gladwin,  Secretary. 
Frank  W.  Chapin,  M.  D.,  appointed  Medi- 
cal Director. 

SEPTEMBER,  1892 

F.  C.  Hilliard  appointed  Cashier. 

DECEMBER  6th,  1892 

Negotiations  for  purchase  of  Merchants  Ex- 
change National  Bank  property  on  Broad- 
way. 


FRANK    W.    CHAPIN,    M.    D. 


[     13    ] 


JANUARY  7th,  1895 

Death  of  A.  A.  Low,  Director. 

JANUARY  16th,  189S 

Ellis  W.  Gladwin  elected  Director. 

JANUARY  20th,  189S 

George  W.  Murray  appointed  Superintend- 
ent of  Agents. 

OCTOBER  16th,  1895 

John  E.  Borne  elected  Director. 

JANUARY  13th,  1894 

Death  of  John  W.  Frothingham,  Director. 

APRIL  16th,  1894 

Election  of  George  E.  Ide,  President; 
William  M.  St.  John,  Vice-President. 
Election  of  William  M.  St.  John,  Martin 
Joost,  and  John  S.  Frothingham,  Directors. 

MAY  1st,  1894 

Company  moved  into  its  present  building  — 
^56  Broadway. 


I 


[     14     ] 

JANUARY,  1895 

Death  of  Edwin  Beers. 

JANUARY  30th,  1895 

Death  of  Charles  A.  Townsend. 

OCTOBER  24th,  1895 

Death  of  George  C.  Ripley,  Ex-President. 

JANUARY  20th,  1896 

E.  Le  Grand  Beers  elected  Director. 

APRIL  20th.  1896 

Election  of  Anton  A.  Raven  and  Courtlandt 
P.  Dixon,  Directors. 

FEBRUARY  25th,  1898 

James  McGovern    and    Francis    L.    Hine 
elected  Directors. 

SEPTEJVIBER  3rd,  1898 

Death  of  J.  S.  T.  Stranahan. 

DECEMBER  4th,  1898 

Fire  in  Company's  building — 256  Broadway. 


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ORIGINAL   HOME    OFFICE   BUILDING 
256   BROADWAY,    NEW   YORK   CITY 


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[     15     ] 
JULY  21st,  1902 

Robert  B.  Woodward  elected  Director. 

FEBRUARY  24th,  1904 

Resignation  of  William  M.  St.  Jjohn,  Vice- 
President. 

APRIL  18th,  1904 

William  G.  Low  retires  as  Counsel. 
L.  H.  Arnold  appointed  Counsel. 
William  A.  Marshall  elected  Vice-President. 
William  A.  Marshall  elected  Director. 

APRIL  17th,  1905 

Ellis  W.  Gladwin  elected  Vice-President  and 

Secretary. 

Henry  E.  Ide  elected  Assistant  Secretary. 

DECEMBER  8th  and  11th,  1905 

Appearance  of  President  Ide  and  Vice-Presi- 
dent Marshall  before  the  Legislative  Com- 
mittee of  New  York  State,  and  examination 
by  Mr.  Charles  E.  Hughes. 


i 


[     16     ] 
OCTOBER  2nd,  1906 

William  G.  Low  gives  notice  of  his  proposed 
resignation  as  Director. 

NOVEMBER  21st,  1906 

By  change  of  Charter  the  Company's  prin- 
cipal  office  transferred  from  Brooklyn  to 
the  Borough  of  Manhattan. 

MARCH  6th,  1907 

William  G.  Low,  Jr.,  elected  Director. 

APRIL  15th,  1907 ' 

Anton  A.  Raven  elected  Vice-President. 

DECEMBER  27th,  1907 

Death  of  L.  H.  Arnold,  Counsel. 

APRIL  20th,  1908 

Howard  Van  Sinderen  appointed  Counsel. 

JANUARY  1st,  1909 

Henry  Moir  appointed  Associate  Actuary. 

NOVEMBER  6th,  1909 

Death  of  James  McGovern. 


{■' 
I., 


ANTON   A.   RAVEN 


w 


n 


A  RECORD  OF  FIFTY  YEARS 


■ 


THE  foregoing  Chronological  Table  will  be 
found  useful  for  reference  as  to  important 
events  in  the  Company's  history.  After  several 
meetings  for  purpose  of  organization,  the  Com- 
pany on  May  1st,  1860,  commenced  business  with 
the  following  oflScers  and  directors :  — 

Walter  S.  Griffith,  President. 
George  C.  Ripley,  Secretary. 
Isaac  H.  Frothingham,  Treasurer. 
Albert  B.  Cap  well,  Attorney. 


Directors 


Peter  C.  Cornell 
John  Sneden 
E.  A.  Lambert 
Thomas  H.  Messenger 
James  How 


J.  G.  Bergen 
John  Halsey 
T.  Polhemus,  Jr. 
A.  B.  Capwell 
H.  B.  Claflin 


ill 


[    18    1 


! 


J.  W.  Greene 
George  S.  Stephenson 
J.  S.  T.  Stranahan 
J.  E.  South  WORTH 
Samuel  Perry 
Charles  A.  Townsend 
C.  I.  Sprague 

H.    E.    PlERREPONT 

John  T.  Martin 
S.  E.  Howard 
Luther  B.  Wyman 
Walter  S.  Griffith 


A.  B.  Bayliss 
J.  D.  Cocks 
H.  Dollner 
S.  B.  Chittenden 
A.  A.  Low 
Czar  Dunning 
William  H.  Cary 
Samuel  Smith 
Thomas  Carlton 
Moses  F.  Odell 
Lewis  Roberts 
Nehemiah  Knight 


George  A.  Jarvis  J.  Milton  Smith 

Isaac  H.  Frothingham 

During  the  first  year  of  the  Company's  history 
there  was  issued  in  new  business  $1,101,000,  and 
death  claims  paid  of  $3,000.  The  premium  income 
was  $33,600.  Notwithstanding  the  fact  that  dur- 
ing the  early  years  of  the  Company's  history  the 
national  conditions  were  of  such  a  character  as  to 


11 


WILLIAM    G.    LOW 


i 


i 


.".  u  I 


4 


[     19     ] 

render  it  almost  impossible  to  conduct  any  line  of 
business  successfully,  the  Company  had  in  force 
at  the  end  of  the  first  five  years,  $10,212,600  of 
insurance.  This  gradually  increased  until,  at  the 
end  of  1869,  there  was  in  force  $23,135,000  of 
insurance,  the  number  of  policies  being  11,009. 

This  first  decade  of  the  Company's  history  was 
really  a  brilliant  one,  and  too  much  credit  cannot 
be  given  to  the  first  President  of  the  Company,  who 
was  a  man  of  rare  executive  ability  and  of  strong 
mentality.  His  death  in  1872  was  a  great  loss  to 
the  institution. 

The  history  of  the  next  decade,  1870-1880,  was 
not  as  brilliant,  and  this  was  due  to  the  fact  that 
the  general  conditions  in  Life  Insurance  circles  dur- 
ing the  early  '70's  were  deplorable,  and  the  Com- 
pany failed  during  that  entire  decade  to  follow  the 
aggressive  policy  which  was  being  adopted  by 
other  companies.  During  this  period  the  insurance 
in  force  decreased,  until  in  1880  the  amount  of 
insurance  on  the  books  of  the  Company  was 
$14,348,000. 

The  next  ten  years  to  1890  showed  a  gradual 


I 


4 


[    20    ] 

growth,  the  insurance  in  force  at  the  end  of  1889 
being  $25,879,000. 

From  1890  to  1894,  the  Company's  insurance 
increased  to  $38,800,000.  During  this  period  the 
issue  of  new  insurance  was  larger  than  it  had  ever 
been  in  the  history  of  the  Company,  but  its  char- 
acter, as  far  as  persistency  was  concerned,  was 
apparently  not  of  the  highest,  as  was  shown  by 
subsequent  cancellations. 

From  1894  to  1900,  the  increase  was  steady,  until 
the  insurance  in  force  at  the  end  of  1899  was 
$49,258,000.  By  this  time  great  improvement  had 
been  made  in  the  Agency  Organization  of  the  Com- 
pany, and  the  foundation  was  laid  for  the  rapid 
growth  which  followed. 

The  next  decade,  1900-1910,  must  properly  be 
considered  in  two  parts.  From  1900  to  1906,  in- 
clusive, the  Company  was  operating  under  the  old 
insurance  law.  Subsequent  to  January  1st,  1907, 
it  was  operating  under  the  amended  law.  During 
the  first  period  referred  to,  the  new  insurance  issued 
shows  a  steady  increase,  and  the  gain  in  insurance 
in  force  was  the  largest  in  any  similar  period  of  the 


HOME   LIFE   BUILDING   AFTER   THE   FIRE,    DECEMBER   4,  1898 


m\ 


'1 


M 

" 


1 

i 
111 


II  f 


[  21  ] 

Company's  history,  increasing  from  $49,258,000 
at  the  end  of  1899  to  $86,113,000  at  the  end  of  1906. 

On  August  16th,  1905,  notice  was  served  upon 
the  Company  that  a  joint  Committee  of  the  Senate 
and  Assembly  of  New  York  State  had  been  ap- 
pointed to  investigate  and  examine  into  the  business 
and  affairs  of  Life  Insurance  Companies  doing 
business  in  the  State  of  New  York,  with  reference  to 
the  investments  of  the  Companies ;  the  relations  of 
officers  thereof  to  such  investments;  the  relations 
of  Companies  to  subsidiary  Companies ;  the  govern- 
ment and  control  of  the  Companies ;  the  relations  of 
the  Companies  to  their  policy-holders ;  the  cost  of 
life  insurance ;  the  expenses  of  the  Companies,  and 
any  other  phase  of  the  Life  Insurance  business 
deemed  by  the  Committee  to  be  proper,  the  pur- 
pose being  that  this  Committee  should  report  back 
to  the  Legislature,  with  the  idea  of  revising  the  Laws 
of  this  State  regulating  and  governing  Life  In- 
surance Companies. 

In  October,  1905,  this  Company  issued  a  leaflet 
prepared  by  its  President  on  the  subject  of  De- 
ferred Dividends,  calling  particular  attention  to  the 


ti 


i 


[    22    ] 

deferred  dividend  plan  of  the  "  Home,"  which  called 
for  an  annual  accounting  and  distinct  liability  as 
compared  with  the  methods  of  other  Companies, 
under  which  the  apportionment  and  payment  of 
the  dividend  was  deferred  for  a  given  period. 

This  leaflet  caused  considerable  comment,  in 
view  of  the  agitation  then  prevailing  in  Insurance 
circles  on  this  subject.  It  was  doubtless  on  account 
of  this  leaflet,  and  in  order  to  make  public  the  facts 
therein  contained,  that  the  oflBcers  were  subjected 
to  such  a  searching  investigation  by  the  Legisla- 
tive Committee. 

President  Ide  was  called  upon  the  stand  Decem- 
ber 8th,  1905,  and  his  testimony  was  continued  on 
December  11th  through  the  entire  day.  He  was 
followed  by  Mr.  Marshall,  the  Actuary  of  the  Com- 
pany. 

In  his  testimony,  the  President  was  examined 
upon  the  following  subjects :  the  Charter,  the  By- 
laws and  government  of  the  Company ;  the  matter 
of  legal  expense  and  campaign  contributions;  the 
Company's  connection  with  other  corporations; 
investments;  the  treatment  of  dividends,  both  an- 


HI 


■ 


HENRY  E.   IDE 
HENRY   W.    MOIR  GEORGE   W.   MURRAY 


I 


[     23     ] 

nual  and  deferred;  agents'  contracts;  the  proper 
cost  of  new  business;  general  expense;  limitation 
of  surplus;  the  question  of  election  of  Directors, 
and  the  interest  taken  by  policy-holders  in  such  elec- 
tions ;  the  question  of  rate  of  interest  on- policy  loans, 
etc.,  etc.  On  all  of  these  subjects  the  investiga- 
tion was  exhaustive,  and  the  questions  were  most 
searching. 

Comments  and  extracts  from  leading  papers  of 
New  York  City  at  the  time  are  a  matter  of  public 
record,  and  show  that  there  was  nothing  developed 
by  this  investigation  which  reflected  discredit  upon 
the  Company.  In  the  history  of  this  Company, 
there  is  perhaps  no  one  incident  which  stands  out 
more  prominently  than  this  Legislative  investiga- 
tion and  its  result. 

It  is  not  out  of  place  to  insert  in  this  perma- 
nent record  a  few  quotations  from  the  press  which 
appeared  at  that  time. 


New  York  Tribune 

The  most  careful  probing  of  this  Company  failed  to  dis- 
close anything  of  serious  character  reflecting  on  the  Com- 
pany." 


f 


[     24     ] 

New  York  World 
"No  Yellow  Dog  Fund,  no  Campaign  or  Legislative  pay- 
ments by  the  Home  Life." 

New  York  Herald 

"Clean  *Bill  of  Health'  for  Home  Life.  Home  Life  Insur- 
ance Concern  said  to  be  without  scandal  so  far  as  the  com- 
mittee can  discover." 

New  York  Journal 

"No  *  Graft'  in  the  Home  Life.  Mr.  Hughes,  after  having 
exhausted  every  conceivable  channel  of  inquiry  by  which 
anything  *  shady'  might  have  been  brought  to  light,  finally 
asked :  — 

*Is  there  any  oflScer  of  your  Company  who  has  a  relative 
among  the  Company's  general  Agents?' 
*No,  sir,'  replied  Mr.  Ide. 
*It's  hopeless,'  exclaimed  Mr.  Hughes,  laughing  heartily." 

Brooklyn  Eagle 

"The  Home  Life  Insurance  Company  was  on  the  stand  this 
morning  before  the  Investigating  Committee,  and  the  show- 
ing was  in  sharp  contrast  to  that  of  other  Companies.  The 
officers  of  this  Company  were  dubbed  the  angels  of  Life 
Insurance  in  the  committee-room  to-day  because  it  was 
made  clear  that,  as  an  experienced  observer  said,  its  ad- 
ministration was  *as  clean  as  a  hound's  tooth.'" 


THOMAS    H.    MESSENGER 
THOMAS   T.    BARR 


HENRY    E.    PIERREPONT 
J.    WARREN   GREENE 


[     25     ] 


ii 


' 


New  York  Globe 

"  Clean  record  in  Insurance.  Hughes  finds  a  unique  witness 

in  President  Ide  of  the  Home  Life.  Business  on  sane  lines. 

Company  makes  annual  apportionment  of  surplus  due  to 

its  policy-holders.  No  juggling  in  syndicate ;  no  mystery  in 

accounts.    Each  year  the  dividend  was  credited  to  each 

policy." 

New  York  Sun 

"The  Company  has  no  *  yellow  dog*  fund,  it  has  n't  made 
any  political  contributions,  it  has  n't  spent  anything  for 
legislation,  its  oflScers  have  not  been  involved  in  syndicates, 
the  salaries  of  the  oflScers  are  moderate  compared  with  most 
of  the  other  companies." 

New  York  World 

"The  old-fashioned  theory  that  insurance  funds  are  trust 
funds  seems  still  to  obtain  in  this  Company." 

New  York  Press 

"Home  Life  shows  clean  record.  *A11  the  abuses  of  life  in- 
surance have  come  from  the  accumulation  of  large  surplus 
where  no  annual  accounting  is  required,'  said  Mr.  Ide.  *  We 
could  draw  upon  the  surplus,  but  it  would  be  apparent 
immediately  under  our  system  of  annual  accounting.'" 

New  York  News 

"Hughes  finds  Home  Life  world's  eighth  wonder.  One  Com- 
pany which  seems  conducted  strictly  for  policy-holders* 
benefit.  The  Home  Life  is  not  interested  to  any  extent  in 
subsidiary  concerns." 


t 


li   «e  ] 

Brooklyn  Eagle 
"The  showing  of  the  Company  under  examination  was,  to 
use  the  language  of  one  of  the  council  uttered  privately,  of 
the  highest  character,  careful,  safe  and  conservative.'* 

New  York  Telegram 
"After  exhausting  every  line  of  inquiry  calculated  to  bring 
out  any  possible  unfavorable  disclosures,  without  success, 
Mr.  Hughes  remarked:  *It's  hopeless,'  as  he  turned  to 
the  members  and  laughingly  prepared  to  call  the  next 
witness.'* 


is 


Brooklyn,  Eagle 
From  Editorial  of  December  12,  1905. 

*'A  MODEL  AND  A  MEASURING-ROD." 
*It  sounds  like  a  fairy  tale.  The  president  of  an  insurance 
company  has  escaped  unscathed.  Naturally,  he  was  re- 
garded as  a  curiosity.  As  it  seemed  too  good  to  be  true,  the 
chairman  consulted  with  the  examiner  in  chief,  protesting 
that  it  would  be  almost  a  reflection  upon  the  committee  to 
let  the  witness  go  without  a  sign  of  distress,  but  Mr.  Hughes 
threw  up  the  case  as  'hopeless.'  However,  after  so  many 
hits,  he  could  afford  a  miss.  Unquestionably,  if  he  was 
searching  for  a  model  or  a  measuring-rod  for  other  com- 
panies, he  found  it  in  George  E.  Ide's  management  of  the 
Home  Life.** 


I 


FREDERICK   C.    BILLIARD 
JULIUS    C.    BIERWIRTH,    M.    D.  HOWARD    VAN    SINDEREN 


ii 
I 


[    27    ] 

During  the  year  1906  the  Company  reaped  the 
benefit  of  the  findings  of  the  Investigating  Com- 
mittee. Its  agency  contracts  were  undisturbed, 
and  it  was  still  allowed  to  use  policy  forms  of  its 
own  selection.  The  result  was  the  largest  business 
in  the  Company's  history,  namely,  an  issue  of  new 
business  of  $14,678,000,  and  an  increase  in  insur- 
ance in  force  of  $6,338,000.  The  Company's  in- 
surance at  the  end  of  1906  was  $86,113,000. 

The  early  part  of  the  year  1906  was  memorable 
by  reason  of  the  agitation  which  attended  the  re- 
vision of  the  Insurance  Law  of  the  State  of  New 
York. 

Conferences  between  the  Executive  officers  of 
the  Companies  were  held  from  time  to  time ;  at  the 
suggestion  of  our  Mr.  Marshall  the  Actuaries  met 
at  our  office  and  offered  their  suggestions  to  the 
Legislature;  public  hearings  were  held,  the  most 
important  being  the  one  before  the  joint  Commit- 
tee of  the  Senate  and  Assembly  on  March  6th,  1906, 
and  private  conferences  between  the  Armstrong 
Committee,  Mr.  Hughes,  its  Counsel,  and^  Life 
Insurance  officers  were  of  weekly  occurrence.  The 


'm 


n 


'illl! 


fl 


ii 


[     28     ] 

result  was  that  many  drastic  and  unwise  features  of 
the  new  law,  as  originally  drafted,  were  eliminated, 
but  the  statute  as  passed  was  revolutionary  in  its 
character,  and  necessitated  an  entire  reorganiza- 
tion of  the  Company's  agency  contracts  and  a  com- 
plete change  in  its  method  of  work.  In  its  main  fea- 
tures this  law  became  operative  January  1st,  1907. 

The  demoralization  which  followed  is  best 
shown  by  the  fact  that  the  Company's  issue  of  new 
business  declined  from  $14,678,000  in  1906  to 
$8,183,000  in  1907,  and  that  the  gain  in  insurance 
in  force  was  only  $79,000  in  1907,  as  compared  with 
$6,338,000  in  1906.  This  demoralization  was  not 
confined  to  this  Company.  No  other  New  York 
State  Company  doing  a  business  similar  to  the 
"Home"  was  able  to  show  any  increase  in  insur- 
ance in  force  during  1907. 

In  1908  the  amount  of  insurance  issued  was 
$9,336,422,  and  the  gain  in  insurance  in  force 
$2,174,947. 

The  conditions  in  1909  showed  some  improve- 
ment, the  issue  of  new  business  being  $11,284,076, 
and  the  gain  in  insurance  in  force  $4,164,339. 


I 


E.    LE   GRAND    BEERS 
MARTIN   JOOST 


COURTLANDT    P.    DIXON 
JOHN   S.   FROTHINGHAM 


S'l 


I 
I 

;  J' 


[     29     ] 

Tables  and  Charts  are  appended  giving  in  de- 
tail all  the  important  figures  necessary  for  a  minute 
study  of  the  Company's  history  since  its  organiza- 
tion. 

The  following  have  been  the  term§  of  office  of 
the  various  Presidents :  — 

Walter  S.  Griffith,        1860  to  1872    Twelve  years. 

George  C.  Ripley,  1872  to  1890     Eighteen  years. 

Charles  A.  Townsend,    1890  to  1892    Two  years. 
'^  George  H.  Ripley,  1892  to  1894    Two  years. 

For  the  last  sixteen  years  the  following  officers 
have  held  office :  — 

George  E.  Ide,  President 

William  A.  Marshall,  Vice-President  and  Actuary. 

Ellis  W.  Gladwin,  Vice-President  and  Secretary. 

Frank  W.  Chapin,  M.  D.,  Medical  Director. 

F.  C.  HiLLiARD,  Cashier. 

George  W.  Murray,  Superintendent  of  Agents. 

William  M.  St.  John,  who  was  elected  Vice-Presi- 
dent in  1894,  retired  from  active  business  in  1904, 
but  still  remains  as  a  member  of  the  Executive 
Committee. 


I 


',' 


[     30     ] 

In  1905  Henry  E.  Ide  was  elected  Assistant  Sec- 
retary. 

In  1907  Anton  A.  Raven  was  elected  Honorary 
Vice-President. 

In  1909  Henry  Moir  was  appointed  Associate 
Actuary. 

During  this  period,  from  1894  to  1910,  under 
one  administration  the  insurance  in  force  has  in- 
creased from  $38,807,735  on  December  31st,  1894, 
to  $92,532,583  on  December  31st,  1909. 

Entire  and  absolute  harmony  and  cooperation 
among  the  Company's  officials,  active  and  aggres- 
sive interest  on  the  part  of  the  Company's  Direc- 
tors, enthusiastic  loyalty  and  devotion  from  the 
Agents,  which  were  particularly  conspicuous  during 
the  trying  years  following  the  enactment  of  the 
new  law,  and  faithful  and  conscientious  work  by 
heads  of  departments  and  clerks,  have  made  this 
result  possible. 

With  proper  appreciation  of  the  seriousness  of 
the  trust  imposed  upon  us,  it  has  been  and  is  the 
aim  and  intent  of  the  management  not  only  to  con- 
serve the  interests  of  our  Company,  but  to  work 


FRANCIS    L.    HINE 
WILLIAM   G.    LOW,   JR.  ROBERT   B.    WOODWARD 


iJ 


II 


[    31    ] 

aggressively  for  its  growth  and  development  as  far 
as  this  can  be  done  with  a  due  regard  for  the  pro- 
tection of  the  interests  of  our  policy-holders.  The 
"  Home's"  record  has  always  been  honorable ;  there 
is  reason  for  proper  self-congratulation  over  what 
has  been  accomplished,  but  the  most  important 
fact  to  be  noted  is  that  the  outlook  for  the  second 
half-century  of  the  Company's  history  is  full  of 
promise  of  brilliant  achievement.  A  definite  policy 
of  conservative  activity,  a  close  and  well-developed 
organization,  a  contented  body  of  policy-holders, 
an  honorable  past  —  these  are  the  fundamentals 
of  a  successful  Life  Insurance  Company,  and  these 
the  "Home"  has  as  her  proud  heritage  after  fifty 
years  of  activity. 


11 


JOHN   E.    BORNE 
WILLIAM   A.    NASH 


JOHN   F.    PRAEGER 
WILLIAM   M.    ST.   JOHN 


ft 


FIFTY  YEARS'  RECORD 


Year 

Death  Claims 

Matured 

Endowments  and 

Annuities 

Surrender  Values 
and  Dividends 

Total  to  Policy- 
Holders 

1860 

3,000 

366 

3,366 

1861 

6,000 

3,535 

9,535 

1862 

8,500 

13,230 

21,730 

1863 

44,000 



22,175 

66,175 

1864 

73,500 

412 

30,733 

106,646 

1865 

62,000 

663 

70,571 

133,234 

1866 

133,500 

859 

123,437  ' 

257,796 

1867 

154,050 

1,506 

165,153 

320,710 

1868 

145,300 

1,643 

250,897 

397,840 

1869 

190,000 

2,047 

277,674 

469,721 

1870 

192,500 

2,047 

300,638 

495,185 

1871 

135,700 

8,347 

329,728 

473,775 

1872 

243,500 

4,136 

287,938 

535,574 

1873 

234,270 

6,257 

254,163 

494,691 

1874 

215,000 

13,307 

274,015 

502,322 

1875 

229,845 

6,930 

274,758 

511,533 

1876 

219,596 

43,117 

269,215 

531,928 

1877 

227,800 

51,617 

368,988 

648,405 

1878 

203,390 

128,367 

264,394 

596,151 

1879 

188,773 

157,844 

215,366 

561,983 

1880 

203,508 

151,195 

152,437 

507,140 

1881 

188,739 

117,827 

140,091 

446,657 

1882 

193,111 

88,112 

154,573 

435,796 

1883 

205,921 

95,333 

168,961 

470,215 

1884 

240,051 

100,099 

177,172 

517,321 

1885 

227,388 

110,747 

173,903 

512,039 

1886 

336,059 

79,513 

187,981 

603,553 

1887 

288,447 

81,364 

189,557 

559,369 

1888 

339,480 

66,314 

207,365 

613,160 

1889 

336,141 

63  580 

229,176 

628,897 

1890 

368,188 

64,189 

225,434 

657,810 

1891 

418,532 

91,938 

286,149 

796,619 

1892 

586,765 

127,712 

275,862 

990,339 

1893 

381,304 

123,929 

328,348 

833,580 

1894 

548,405 

100,178 

374,959 

1,023,542 

1895 

487,124 

107,058 

342,600 

936,781 

1896 

651,096 

138,152 

352,704 

1,141,952 

1897 

569.364 

125,820 

319,090 

1,014,276 

1898 

630,266 

152,046 

344,535 

1,126,848 

1899 

603,482 

158,110 

276,806 

1,038,398 

1900 

517,734 

165,193 

314,211 

997,138 

1901 

740,965 

208,832 

333,813 

1,283,610 

1902 

718,136 

255,114 

364,433 

1,337,683 

1903 

800,787 

364,880 

382,682 

1,548,348 

1904 

827,436 

331,435 

443,094 

1,601,965 

1905 

781,375 

430,520 

513,439 

1,725,334 

1906 

911,253 

345,226 

611,229 

1,867,709 

1907 

1,089,338 

340,208 

680,013 

2,109,558 

1908 

1,000,676 

389,890 

754,371 

2,144,937 

1909 

977,125 

404,853 

902,267 

2,284,245 

FIFTY  YEARS'  RECORD 


M 


Year 

Premiums 

Interest  and  Rents 

Total  Income 

1860 

33,647.46 

5,897.82 

39,545.28 

1861 

76,433.21 

11,766.48 

88,199.69 

1862 

119,541.45 

17,694.73 

137,236.18 

1863 

233,511.30 

26,097.35 

259,608.65 

1864 

350,272.71 

43,434.79 

393,707.50 

1865 

435,825.23 

57,194.91 

493,020.14 

1866 

671,700.28 

74,733.81 

746,434.09 

1867 

812,878.53 

92,017.08 

904,895.61 

1868 

842,867.76 

110,210.53 

953,078.29 

1869 

884,403.16 

131,259.74 

1,015,602.90 

1870 

861,596.45 

150,245.92 

1,011,842.37 

1871 

838,832.49 

163,490.20 

1,002,322.69 

1872 

840,361.55 

197,905.51 

1,038,267.06 

1873 

835,684.53 

225,437.20 

1,061,121.73 

1874 

781,127.36 

249,451.44 

1,030,578.80 

1875 

741,665.88 

278,241.06 

1,019,906.94 

1876 

634,002.97 

274,760.92 

908,763.89 

1877 

670,201.51 

268,960.78 

830,162.29 

1878 

492.354.55 

294,513.06 

786,867.61 

1879 

465,105.60 

283,811.38 

748,916.98 

1880 

440,041.86 

234,738.67 

674,780.53 

1881 

454,727.98 

259,803.75 

714,531.73 

1882 

498,834.71 

257,2:;8.74 

756,073.45 

1883 

546,475.48 

260,505.79 

806,981.27 

1884 

563,352.79 

257,454.54 

820,807.33 

1885 

600,238.33 

286,018.69 

836.257,02 

1886 

680,840.93 

269,401.18 

1,065,737.14 

1887 

756,817.00 

296,830.53 

1,053,647.53 

1888 

816,847.03 

282,839.10 

1,099,186.13 

1889 

980,301.01 

294,615.07 

1,224,916.08 

1890 

1,001,621.11 

346,518.54 

1,348,139.65 

1891 

1,206,214.96 

423,231.16 

1,629.446.12 

1892 

1,310,105.10 

445,099.34 

1,755,204.44 

1893 

1,535,056.36 

334,382.30 

1,869,438.66 

1894 

1,501,943.30 

386,1:00.29 

1,888,843.59 

1895 

1,617,005.52 

382,167.54 

1,999,173.06 

1896 

1,628,661.18 

425,879.54 

2,054,540.72 

1897 

1,655,015.65 

452,283.11 

2,107,298.76 

1898 

1,731,725.03 

480,340.88 

2,212,065.91 

1899 

1,883,670.95 

488,459.64 

2,372.130.59 

1900 

2,029,802.18 

558,501.74 

2,588,303.92 

1901 

2,311,561.64 

738,610.89 

3,050,172.53 

1902 

2,544,625.88 

672,741.43 

3,217,367.31 

1903 

2,761,218.03 

674,310.83 

3,435,528.86 

1904 

3,038,032.61 

684,647.85 

3,722.680.46 

1905 

3,216,142.68 

824,260.75 

4,040,403.43 

1906 

3,572,805.59 

851,180.66 

4,423,986.25 

1907 

3,383,327.65 

970,763.27 

4,354,090.92 

1908 

3,409,626.35 

1,026  788.27 

4,436,414.62 

1909 

3,532,203.14 

1,148,177.29 

4,680,380.43 

[J^JJcsimne  of  Ordjriar^  jssued  by  the  Compa?iy,  1910) 


ORDINARY    LIFE 


Sfoii^diiien 


-^^ 


i.C^,^  •■;■<  l.f.iWCT.i.l  '.».-  i-iri-t''  /  ..•:<.■ ,., 


M 


•ms££i^iffm,m±tiimumcs)o^ 


^j 


XIFE  INSURANCE  COMPANY 


OF    X^K^**^  T^OllK. 


V^fOI    V'l 


i>i:i  >iii  >! 


uQ^OaO. 


rV 


tfS^ 


3tt    ConS(ftlttSttOn    of  the  application  for  this  Policy;  copv^of  which  is  endorsed 

hereon,  and  of,  the „ „ _ ^annual  premium  of     _  _       -r-~SA^^^\^AAAAju^ 

/too.  Dollars,  and  of  the  payment  of  a  like  amount  upon 

day  of „SfttW4>vou?www?. „ „....^..hereafter  until 


eaci 


the.  death  di  the  Insured, 

$t0tnis!t£(  to  $ap  at  the  Home  Office  c^  the  Company  in  the  City  of  New  York 
upon  receipt  at  said  Home  Office  oLdue  croof  cf^the  death  of 


herein  called ^e  Insured, 


State' ot: 


aAa 


rDollars, 


less  any  indebtedness  hereon  to  the  Company  and  any  unpaid  portion  of  the  premium 
for  the  then  current  policy  year  upon  the  surrender  of  this  Policy,  duly  released,  to 


..^lRMn^X..aiilMjvrlnnnflK£! 


beneficiarvtzn.,  with right  of  revocation. 

G)SittQjt  of  ^tXitlidWC]^^ — When  the  right  of  revocation  has  been  reserved,  the  Insured* 
if  there  be  no  existing  assignment  of  the  Policy  filed  ^  ath  the  Company  as  herein  provided, 
may,  while  the  Policy  Is  In  force,  designate  a  new  feeneficiary,  with  or  without  reserving 
right  of  revocation,  by  filing  written  notice  thereof  at  the  Hpme  Office  of  the  Company, 


accompanied  by  the  Policy  for  suitable  endorsement  tl 


upon  the  endorsement  of  the  same  on  the  Policy  by  t  le  Company  and  not  before.     If  any 


ereon.     Such  change  shall  take  effect 


ignatlon,  shall  die  before  the  Insured, 

d,  unless  otherwise  herein  provided. 

vided  the  payment  of  a  premium  or 


beneficiary,  under  either  a  revocable  or  irrevocable  des 
the  interest  of  such  beneficiary  shall  vest  in  the  Insur 

$aptntnt  of  $tenttUtn£(* — Except  as  herein  pre 
instalment  thereof  shall  not  maintain  the  Policy  In  f(  >rce  beyond  the  date  when  the  next 
premium  or  instalment  thereof  Is  payable. 

All  premiums  are  payable  in  advance  at  said  Home  Office  or  to  any  agent  of  the  Com- 
pany upon  delivery  on  or  before  date  due  of  a  receipt  slj^ned  by  an  Executive  Officer,  to  wit  :— 
President,  Vice-President,  or  Secretary  of  the  Comp  any  and  countersigned  by  said  agent. 

^Vatt  ^eriob* — A  grace  of  one  month  (but  not  less  than  thirty  days)  subject  to  an 
interest  charge  at  the  rate  of  five  per  centum  per  anrlum,  shall  be  granted  for  the  payment 
of  every  premium  after  the  first,  during  which  time  the  Insurance  shall  continue  In  force. 


If  death  occur  within  the  period  of  grace,  the  unpaid 
amount  payable  hereunder. 


'ftJ'Cr^ A..."  '_■"    ,:>:.■■. . i:a*».'i >**■  - .'v-  h  „-j ■ 


premium  shall  be  deducted  from  the 


t^^. 


Aziv,  Xv;  A  i 


AMOUNT  OF  INSURANCE  PAYABLE  AT  DEATH 


PREMIUMS  PAYABLE 


XJRINCLIFE 


ANNUAL  DIVIDENDS 


wm' 


Dividend 
Options 


Automatic 


Tk    p  L     L II  Annual  Dividends 

tain^ldlU^^^X^^^^  *^  """^^  "^  ""^  '^^^^^'^  ^^  *^^^""^  '"^'"^  *^^  »^--"  »»-"  ^  — 

At  the  option  of  the  Insured  or  the  owner  of  this  Policy  such  dividends  shall  on  theJlusA*^       dav  of        ScvwuLoAiU/  ^f 

»,.    v.  J  .   ,,  Application  of  Dividends 

If  the  dividends  be  left  to  accumulate  to  the  credit  of  the  policy  as  per  option  (4)  above  •-- 

mah««.#     tl      J    t  Semi-Annual  or  Quarterly  Premiums 

A(»   »k     mi  •      .      .     l-oans  and  Surrender  Options 

«d  .hi.  intact  if  «.  paid  JL^  L\  U'tdS  tX  i  U„  «dlfc  inreLTa,^;::?,^  w'SchThrf'  '"^'^'"  tT'' 

o(  such  default,  without  (uture  pXipItion  and^W  ri^^^h^i^  li  k     ',"'7"  """"ued  in  force  as  term  insurance  from  the  date 

»d  any  outstanding  dividend  affiCS.  «y  btS^e^t'^e'S^^ytt"  o^  U)  ZT^p'^A  *?"  ''"T  fr  *"'  ^'"''^^ 
I»a^le  at  the  same  time  and  on  the  same  conilions  as  this  Policy        "'^'^  "*""" '  "'•  W  to  purcliase  PartiapaUng  paid-up  life  insurance 

d^ISt  ^^d)it  .}::^Am^t  ^'p:'.;::;rTibroteX  ^  f r^ra.1/::;:  "fXL  t'  "^  t  -"- '--  ^'^  <^" .-' 

deduction  of  a  surrender  charge  whkh  in  the  third  year  S  b^  not  ZL    k^  J         l^/  "^"^  P^'  *,"""™'  ^"^'J^'  *<>  t^e 

a.  date  of  default  when  applied  as  a  na  single  S"^S  to  r^fu^'^tri'slir'' '""'""  "'"^'^^ 

J'^IlS!  M'"i.!J?"J!?Llr?«n  and  Surrender  Values 


_  Loans 
Policy  Sole 
Security 


Surrender 
Options 


Cash  Value 


Paid-up;  or 

extended 

Insurance 


»..?'&t^*:i2.-^-;t.r:^^^ 


i7  .C  kl  Zl  •  J-kZj     '**".«•':?'•      1  '>«»«  »alu«  wUI  be  ucieued  oo  account  of  uy  dividen 
If  lh«e  be  .ay  mdeb»«l«s5  to  (he  Comp«y  the  figun.  will  be  modified  «  k«eiabefore  provdS 


After  Policy 

Km  been  in 

force 


3  ye«i( 

4  " 


Loan  or  Ca«h  Value 


5 
6 

7 
8 

q 

10 

II 

12 

13 

14 

IS 

16 

17 

18 

19 

20 


Paid'Up  Participating; 
Life  Insurance. 


$I7>I.QQ 

$3ife8.fc.o 

$ 

$ 


$ 


Paid-up  Non-partidpaiing  Term 
lotuiance  for 


Year* 


Montht 


Values  for  later  years  will  be 


$507©. 
$^ 
$ 
$ 


:1 

<\ 

AO... 

\% 

15 

Itf. 
I? 
If 
1^ 

Ife 


...»„ 
8.. 

....3.. 

A 

.0 

J» 
11 

.4 

8 
IP 

,«., 
...1... 
..1... 
...1..., 


cot 


IWO— Ed.-l-'lO 


npuied  upon  the  above  stated  basis  and  will  be  furnished  upon  request 


Unpaid 
Premiums 
Advanced 


9  Years  After 
Default 


Free  from 
Conditions 


AgB 

Suicide 
Assignments 


Fixed 
Instalments 

Instalments 

ao  Years  Certain 

Life  Thereafter 

Annuity 

•upplementary 
Contract 


Automatic  Extended  Insurance 

On  default  in  the  payment  of  any  premium  hereon  the  insurance  shall  be  continued,  without  action  on  the  part  of  the  insurcSd.  as  paid-up 
non-participating  Term  insurance  as  provided  in  option  (b)  aforesaid  if  the  insured  shall  not  within  three  months  after  such  defdult  surrender 
this  policy  to  the  Company  at  the  Home  Office  for  its  Cash  Value,  or  paid-up  insurance. 

Premium  Liens 

In  lieu  of  automatic  extended  insurance  the  Company  will,  on  receipt  of  a  satisfactory  request  from  the  owner  hereof  at  any  tin^  prior  to 
default  in  payment  oi  any  premium,  advance  the  amount  of  any  unpaid  premium  as  a  lien  on  the  policy  with  interest  in  advance  at  'the  rate 
of  six  per  centum  per  annum  if,  after  deducting  from  the  cash  value  all  existing  indebtedness  and  interest  thereon  to  the  end  of  the  period 
to  which  the  unpaid  premium  applies,  the  balance  shall  equal  or  exceed  the  overdue  premium  with  interest  to  the  same  date.  Subsequent 
premiums  will  in  like  manner  be  advanced  from  time  to  time  as  they  fall  due  until  the  Cash  Value  as  aforesaid  is  not  sufficient  to  cover  the 
accumulated  indebtedness  and  advance  the  premium.  Any  indebtedness  thus  created  shall  be  a  first  charge  against  the  policy  and  all  proceeds 
thereof,  ranking  in  priority  to  the  claim  of  any  beneficiary  or  assignee. 

If  the  Cash  Value  or  balance  thereof  be  not  sufficient  to  pay  the  entire  premium  and  interest  it  shall  be  used  to  pay  a  quarterly  premium 
and  if  insufficient  to  pay  an  entire  quarterly  premium  any  excess  of  the  Cash  value  hereon  over  the  indebtedness  shall  be  used  to  purchase 
extended  term  insurance  as  aforesaid. 

At  any  time  while  the  policy  be  thus  continued  the  insured  without  medical  re-examination  may  resume  payment  of  premiums. 

Reinstatement 

This  policy  may  be  reinstated  at  any  time  within  five  years  from  the  date  of  default  in  the  payment  of  any  premium,  upon  evidence  of 
insurability  satisfactory  to  the  Company  and  upon  the  payment  of  the  arrears  of  premiums  and  of  any  cash  surrender  value  allowed  to  the 
Insured  with  interest  thereon  at  the  rate  of  six  per  centum  per  annum,  and,  at  the  option  of  the  Insured,  either  (a)  upon  pajrment  in 
cash  to  the  Company  of  any  indebtedness  which  existed  at  said  date  of  default  together  with  interest  thereon  at  the  above  rate,  or  (b)  upon 
reinstatement  of  such  indebtedness  increased  by  the  amount  of  interest  thereon  at  the  above  rate,  provided  such  reinstated  increasetf. 
indebtedness  does  not  exceed  the  loan  value  at  the  date  to  which  reinstatement  is  made. 

Special  Provisions 

This  Policy  and  the  application  herefor  constitute  the  entire  contract  between  the  parties  hereto,  and  is  free  from  conditions  as  to  residence, 
travel,  occupation,  or  military  or  naval  service.  All  statements  made  by  the  Insured  shall,  in  the  absence  of  fraud,  be  deemed  repiesentations 
and  not  warranties,  and  no  such  statement  shall  avoid  this  policy,  or  be  used  in  defence  of  a  claim  hereunder,  unless  contained  in  the  written 
application  and  unless  a  copy  of  such  application  be  endorsed  upon  or  attached  to  the  policy  when  issued. 

This  Policy  shall  be  incontestable,  except  for  non-payment  of  premiums,  after  one  year  from  its  date  of  issue. 

If  the  age  of  the  Insured  has  been  misstated,  the  amount  payable  hereunder  shall  be  such  as  the  premium  paid  would  have  purchased 
at  the  correct  age. 

This  Policy  shall  become  null  and  void  if  within  one  year  from  its  date  of  issue  the  Insured  shall  commit  suicide. 

No  assignment  of  this  Policy  shall  be  binding  upon  the  Company  unless  such  assignment  or  a  certified  copy  thereof  be  filed  with  the 
Company  at  its  said  Home  Office.     The  Company  assumes  no  responsibility  as  to  the  validity  of  any  assignment. 

Optional  Modes  of  Settlement 

The  insured  or  the  beneficiary  after  the  insured's  death  in  case  the  insured  shall  have  made  no  election,  may  by  written  notice  to  the 
Company  at  its  Home  Office,  elect  to  have  the  net  sum  payable  upon  the  death  of  the  insured  paid  as  follows  instead  of  in  one  sum : — 

1.  In  equal  annual  instalments  for  a  specified  number  of  years,  the  first  instalment  being  payable  immediately,  in  accordance  with 
the  following  Table  for  each  $l,(KX).  of  said  net  sum ;  or 

2.  In  equal  annual  instalments  payable  at  the  beginning  of  each  year  for  a  fixed  period  of  twenty  years  and  for  so  many  years 
longer  as  the  payee  shall  survive,  in  accordance  with  the  following  Table  for  each  $  1 ,000.  of  said  net  sum ;  or 

3.  As  an  annuity  during  the  life  of  the  payee,  in  accordance  with  the  following  Table  for  each  $1,000.  of  said  net  sum, 
the  last  annuity  payment  to  be  the  regular  payment  immediately  preceding  the  deadi  of  the  payee. 

When  any  option  calling  for  annual  payments  is  elected,  this  policy  shall  be  surrendered  upon  its  maturity  and  a  supplementary 
non-participating  contract  shall  be  issued  for  the  option  elected,  which  shaO  specify  to  whom  any  unpaid  instalments  shall  be  paid  in  event  of 
the  death  of  the  payep. 

Unless  odierwise  specified  by  the  owner  or  by  the  beneficiary  in  making  such  election,  the  payee  under  options  (1)  or  (2)  may  at  any  time 
surrender  the  contract  guaranteeing  the  payment  of  instalments  for  the  commuted  value  of  the  payments  yet  to  be  made,  computed  upon  the 
same  basis  as  option  (I)  in  the  following  table;  provided  that  no  such  surrender  and  commutation  will  be  made  under  option  (2),  except  after 
the  death  of  the  payee  occurring  within  the  aforesaid  twenty  years. 

Table  of  Instalments  for  each  SI, 000 


OPTION  (!) 

OPTIONS  (2)  and  (3) 

Number  ol 

Aonaal 
lastAlmcnU 

Amount  o(  Each 
liuulmeoi 

Aoeof  Payee 

when  PoUcy 

becookct 

payable 

Amount  ol  Each 
Initalmeat 
Opdoa(2) 

Annuity  OpdoQ  (3) 

Am  o(  Payee 

when  Policy 

become* 

payable 

Amount  o(  Each 
lostalmeot 
Opbon(2) 

Annuity  Option  (3 1 

Age  of  Payee 

when  Policy 

becomet 

payable 

Amount  of  Each 
Instalment 
Option  (2) 

Annuity  Optiott(3) 

Mair 
Payee 

Female 
Payee 

Male 
Payee 

Female 
Payee 

Male 
Payee 

Female 
Payee 

$ 

$ 

$ 

$ 

$ 

$ 

$ 

$ 

$ 

$ 

25 

55.76 

lOaadoMier 

39.58 

43.02 

39.58 

10 

44.98 

50.16 

45.46 

50 

56.60 

70.00 

62.38 

20 

65J6 

n 

39.83 

4324 

39.83 

M 

45.39 

50.75 

45.96 

51 

57.30 

71.71 

63.61 

19 

67.78 

12 

40.08 

43.48 

40.06 

lil 

45.83 

5135 

46.49 

52 

57.99 

7333 

6532 

18 

7039 

13 

4a33 

43.72 

4033 

j)3 

4627 

51.96 

47.04 

53 

58.66 

75.47 

66.93 

17 

73.74 

14 

40.52 

43.98 

4032 

i<« 

46.74 

52.64 

47.61 

54 

5933 

77.53 

66.64 

16 

77J9 

15 

4a7l 

44.25 

40.7! 

t 

4723 

5334 

4822 

55 

59.97 

79.73 

70.45 

15 

8IJ3 

16 

40.90 

4433 

40.90 

47.73 

54.06 

46.86 

56 

60.58 

62.07 

7239 

14 

85.95 

17 

41.09 

44.82 

41.09 

37 

4626 

54.85 

49.53 

57 

61.17 

6436 

74.44 

13 

9129 

16 

4129 

45.13 

4129 

1 

M 

46.80 

55.67 

5024 

56 

61.72 

6726 

76.63 
76l97 

12 

9734 

19 

41.49 

45.45 

41.49 

>9 

49.36 

5633 

5a96 

59 

62.24 

9ai2 

II 

104.93 

20 

41.69 

45.78 

41.69            1 

0 

49.95 

57.44 

51.76 

60 

62.71 

9:  19 

81.47 

10 

113.82 

21 

41.96 

46.13 

41.% 

II 

50.55 

56.40 

52.56 

61 

63.15 

96.47 

84.13 

9 

124.69 

22 

4224 

4630 

4224 

(2 

51.17 

59.41 

53.45 

62 

63.54 

100.00 

86.99 

8 

I38JI 

23 

42.53 

46.89 

42.54 

0 

51.81 

60.49 

54.36 

63 

63.89 

103.78 

90.03 

7 

155^ 

24 

42.84 

4729 

42.91 

(4 

52.46 

6Ij62 

55.33 

64 

64.19 

107.64 

9330 

6 

17922 

25 

43.16 

47.72 

4328 

♦5 

53.12 

62.62 

5634 

65 

64.45 

112.22 

96.81 

5 

211.99 

26 

43.50 

48lI7 

43.66 

46 

53.80 

64.09 

57.42 

66 

6430 

116.93 

10037 

4 

261.19 

27 

43.84 

46.63 

44.10 

47 

5430 

65.44 

5635 

67 

64.50 

122.01 

104.62 

3 

34323 

28 

4421 

49.13 

4433 

46 

55.19 

66.87 

59.76 

68 

6430 

12730 

106.97 

' 

507.38 

29 

44.59 

49.64 

44.99 

49 

55J9 

6A39 

61.03 

69 
70ui»fm 

64.50 
64.50 

133.42 
139.84 

113.66 
118.72 

Agents  are 

not  aidhorizec 

1  tomo 

<fifyUv 

UP< 

Key  m 

-  to  extend  th( 

e  time 

For  pay 

ing  apremii 

^nnT 

bop 


9n  IMitntSsi  WSil^tntA,  t^  compJ 

of yf¥Mhnf\kj/ ioijo. 1 


iKtf  cauKeH  ttitt  IgtolUf  to  be  executeli  t^ifi ^^uudCr...... 


1188) 

1189  (Bd.. 1.10 

1190  ):fc: 


Secretary, 


President, 


FIFTY  YEARS'  RECORD 


Year 


1860 

1861 

1862 

1863 

1864 

1865 

1866 

1867 

1868 

1869 

1870 

1871 

1872 

1873 

1874 

1875 

1876 

1877 

1878 

1879 

1880 

1881 

1882 

1883 

1884 

1885 

1886 

1887 

1888 

1889 

1890 

1891 

1892 

1893 

1894 

1895 

1896 

1897 

1898 

1899 

1900 

1901 

1902 

1903 

1904 

1905 

1906 

1907 

1908 

1909 


Admitted  Assets 


Liabilities 


157,877.91 
199,478.36 
£77,304.71 
418,329.23 
627,909.87 
890,029.25 
1,231,678.50 
1,643,028.55 
2,010,643.82 
2,388,031.61 
2,670,005.20 
3,002,161.98 
3,346,153.11 
3,729,679.36 
4,113,905.32 
4,475,117.34 
4,730,122.94 
4,778,163.59 
4.803,770.10 
4,829,056.84 
4,921,136.84 
5,037,322.42 
5,185,685.25 
5,403,543.11 
5,457,587.53 
5,646,477.69 
5,855,842.26 
6,110,909.42 
6,355,798.90 
6,694,304.59 
7,208,949.47 
7,593,930.13 
8,046,881.16 
8,246,604.23 
8,570,838.69 
8,981,863.35 
9,384,857.42 
9,970,716.86 
10,559,150.87 
11,348,859.12 
12,342,246.77 
13,370,862.75 
14,432,216.56 
15,102,840.60 
16,606,229.07 
17,886,594.88 
19,009,550.82 
20,004,853.63 
21,708,901.70 
23,626,018.63 


29,530 
56,515 
94.713 
248,748 
400,763 
634,33^ 
886,662 
1.211,631 
1,591,681 
2,025,004 
2,315,931 
2.502,644 
2,827,610 
3,197,924 
3.440.975 
3,690,489 
3,842,265 
3.653,172 
3,588,885 
3,505,645 
8,534,186 
3,594,917 
3,711,036 
S.857,809 
8,951,589 
4.105,322 
4,269,234 
4,765,170 
4,979,975 
5,304,071 
5,713,717 
6,086,266 
6,556,452 
7,071,614 
7,385,518 
7,956,665 
8,349,113 
8,862,312 
9,406,183 
10,145,581 
11,059,658 
12,060,731 
13,108,809 
13,976,071 
15,472,125 
16,682,194 
17,925,902 
19,235,418 
20,471,724 
21.873,691.52 


FIFTY  YEARS'  RECORD 


Year 


New  Insumnce  Issued 


No. 


1860 

447 

1861 

903 

1862 

788 

1863 

2,182 

1864 

2.289 

1865 

2,069 

1866 

2,868 

1867 

2,584 

1868 

2,103 

1869 

2,126 

1870 

1,927 

1871 

1,269 

1872 

1,330 

187S 

1,308 

1874 

1,089 

1875 

757 

1876 

930 

1877 

797 

1878 

674 

1879 

721 

1880 

807 

1881 

1,230 

1882 

1,845 

1885 

1,618 

1884 

1,199 

1885 

1.441 

1886 

1,942 

1887 

2,266 

1888 

2,129 

1889 

3,180 

1890 

8,393 

1891 

4,156 

1892 

5,170 

1893 

6,258 

1894 

5,023 

1895 

5,623 

1896 

4.066 

1897 

4,471 

1898 

5,045 

1899 

5,398 

1900 

6,462 

1901 

7,030 

1902  p 

p  6,574 

1903 

6,983 

1904 

7,218 

1905 

7,272 

1906 

7,670 

1907 

8,667 

1908 

4,093 

1909 

4,752 

Amount 


1,101,650 
2,083,300 
1,701,500 
4,247,550 
4,401,800 
4,335,650 
6,517,326 
5,522,900 
4,208,427 
4,339,909 
3,574,865 
2,198,900 
2,427,630 
2,532,842 
1,954,609 
1,499,239 
1,687,767 
1,408,533 
1,030,263 
1,231,234 
1,504,435 
2,216,627 
2,385,235 
8,065,544 
2,253,514 
2,791,571 
4,164,797 
5,211,041 
4,942,999 
6,762,642.04 
7,391,311.50 
8,688,829.71 
12,784,402.63 
13,245,619.36 
10,287,850.14 
12,311,313.80 
8,222,022.84 
8,614,247.40 
8,819,741.51 
9,783,802.31 
10,035,397.37 
12,243,694.89 
p  11,452,774.70 
12,335,472.21 
12,799,381.39 
12,698,429.42 
14,678,791.97 
8,183,325.41 
9,336,422.19 
11.284.076.00 


Insurance  in  Force  End  of  Year 


No. 


427 
1,114 
1,640 
3,424 
5,050 
6,363 
8,275 
9,752 
10,311 
11,009 
11,154 
10,516 
10,575 
10,740 
10,409 
10,234 
9,946 
8,425 
7,858 
7,424 
7,467 
7,862 
8,278 
8,893 
8,968 
9,447 
10,185 
11,078 
11,518 
13,122 
14,532 
16,198 
18,390 
19,717 
19,944 
21,604 
21,646 
22,541 
24,275 
26,262 
29,203 
32,422 
p  34,619 
88,105 
41,541 
44,615 
47,661 
47,091 
47,707 
49,099 


Amount 


1,055,650 
2,696,100 
3,825,900 
7,165,450 
10,212,600 
13,086,650 
17,635,226 
20,822,076 
21,788,265 
23.135,034 
22,902,409 
21,427,059 
21,466,111 
21,769,083 
20,932,412 
20,521,578 
19,902,744 
16,800,407 
15,308,668 
14,308,468 
14,348,067 
14,965,079 
15,696,414 
16,874,646 
16,957,595 
17,819.416 
19.450.061 
21.756,596 
22,748,299 
25,879.171 
29.027,638 
32,161,776 
38,008,378 
39,220,330 
38,807,735 
42,483,862 
41,971,980 
43,443,047 
45,574,381 
49,258,697 
54,069,852 
59,646,669 
p  63,313,144 
69,410,582 
74,892,289 
79,775,340 
86.113.559 
86.193.297 
88.368,244 
92.532,583 


p  Change  made  to  paid-for  basis. 


HOME    OFFICE    BUILDING    (256    BROADWAY,    NEW  YORK    CITY) 
DECORATED    FOR   THE    HUDSON-FULTON   CELEBRATION 

SEPTEMBER,  1909 


15.000.000 

u.ooo.ooo 

13.000.000 
12,000,000 
11,000.000 


Vz 


Insurance  Issued  and  Revived 

(Written)^ 1860-1902  Incl. 

Insurance  Issued  and  Revived 

(Paid  for) _I903-I909 

Insurance  canceled  (Written 

basis)        •  860- 1  902  Incl. 

Insurance  canceled   (P^^ Jfor 
basis)    . .   .       ,    .  -I903-I9oa 


10.000.000 
9,000,000 
8.000.000 
7,000,000 
6.000,000 
5,000,000 
4.000,000 
3.000,000 
2.000,000 
•  1,000,000 


llUlIHgliPiiiiiiPiiiMJi^ 


95,000.000 

90,000,000 

85,000,000 

80,000,000 
35,000,000 

70,000.000 

65,000,000 

60,000,000 

65,000,000 

50.000,000 

45,000,000 

40,000,000 

35,000.000 

30.000,000 

25,000,000 

20,000,000 

15,000,000 

10.000,000 

5,000,000 


„^B5J:2»os«n*?SS2»o5SSSSSSSJ 


^4.000.000 

t22, 500,000 
21.000,000 
19.500.000- 
18.000.000 

16.500,000 
15.000,000 
13,500,000 
12,000,000 
10,500,000 
9.000,000 
7,500.000 
6,000.000 
4.500.000 
3,000,000 
1,500.000 


Admitted  Assets 
Liabilities 


1860-1902  inclusive  Basis  Business  Written 
1903-1909  inclusive  Basis  Business  Paid  for 
1 868  Valuation  basis  changed  to  Amer  4  /$  ^ 
1887  Valuation  basis  changed  to  Comb  4^ 


f~f L 1 1— J — 

-^^^--^H J"  JI"~TTT        M  i  '  '     I       M  I  I  I  I 

g'Sr' '         '    '     '     '    '    '     '     '    '    .'_  '_ i]i  m  ■_  rn  m  o   ~  wn*iO  (Bt*?° 


r  IN  <^ 


*  »  o 
o 


Sooooooo 


(0  • 


2.375.000 
2.250.000 


2.125.000 

2.000.000 

1.875.000 

1.750.000 

1,625.000 

1.500.000 

1,375.000 

1,250.000 

1.125.000  - 

].000,000 

875.000 

750.000 

625,000 

500,000 

375.000 

250.000 


125,000 


Death  Claims  Paid  -  -  --—  - 
Matured  Endowments  paid- 
Dividends  and  Surrender 

values  paid  - 

Total  paid  Policyholders    _ 


<»f^«2»o52'3S5S 


iiiiiiiilis?ssssissi|iiii|liiiisisi|i?????i°i|i?M 


<Dr-coa.ps;""l»SSSS2  P" 


n  «»•  o    a>  t-  CO  • 


:isssSl5iisiii?siiliiiiii:iiiiMiiips=i-M^M??^? 

^  -    -     -    ^     -  -   r.  —  "  " 


CAMBRIDGE  .  MASSACHUSETTS 
U   .   S   .  A 


COLUMBIA  UNIVERSITY  LIBRARIES 

This  book  is  due  on  the  date  indicated  below,  or  at  the 
expiration  of  a  definite  period  after  the  date  of  borrowing,  as 
provided  by  the  library  rules  or  by  special  arrangement  with 
the  Librarian  in  charge. 


DATE  BORROWED 


DATE  DUE 


DATE  BORROWED 


DATE  DUE 


COLUMBIA 


UNIVERSITY  LIBRARIES 


0044250231 


D936 


H754 


D986 


H754 


^ome  life  insur'ance  company. 
Home  life  insurance  company. 


ff)^  c6SB^ 


Ca8(28l)IOOM 


tiS^l 


NAHl7  1|9i 


MAR      9  1954 


.  o 


JUN  -.>  i^^Q 


END  OF 
TITLE 


